Nordea offers three percent interest for three-month deposits

Nordea Bank Abp has introduced a new high-interest savings account option in Denmark, offering a three percent interest rate for deposits with a three-month binding period. The new product aims to provide customers with a more attractive and flexible way to grow their savings, even over shorter timeframes.

Following a period of historically low and negative interest rates, Nordea was one of the first major banks in 2022 to offer fixed-rate savings accounts. These accounts provided a higher interest rate compared to standard current accounts, with previous binding periods ranging from 12, 9, or 6 months. The new three-month option enhances flexibility and appeal for savers seeking better returns on shorter terms.

Mads Skovlund, Head of Personal Banking Denmark at Nordea, commented that customers have responded positively to the fixed-rate accounts. "Our customers have welcomed the opportunity to grow their savings in a fixed-rate account. We are now making it even more flexible. For instance, if you have received a tax refund, you can now place the amount in a fixed-rate savings account for as little as three months at three percent interest," Skovlund stated.

Fixed-rate accounts have rapidly become a popular savings method. In 2023, Nordea customers in Denmark opened approximately 60,000 fixed-rate savings accounts. These accounts can be easily opened through the bank's mobile or internet banking services.